Visual C++ .NET 2003, Free.
Go here to get a free command-line version of VC++ .NET 2003. For you misers, I'm sure you could trick the 7.0 IDE (or even the 6.0 one) into using these new binaries. This was mentioned on Slashdot on Sunday.
I'd recommend carefully reading the included EULA if you intend to use this version of VC to create commercial products. I haven't read it myself, but the download page doesn't explicitly say that this can be used for commercial products.
Having said that, this is a great thing to get for free. As far as I can tell, it isn't crippled in any serious way. Full optimizations are available, and there don't appear to be any time limits.